Property Type

Jones-Graduate-School-of-Business

HOUSTON — General contractors Skanska and B. Bell Builders have broken ground on the Jones Graduate School of Business, a $54.5 million academic building on the campus of Rice University in Houston. Designed by Houston-based Kirksey Architecture and Architecture Research Office, the new building will be integrated into McNair Hall, the current home of the business school. In addition to classrooms and office spaces, the new building will feature dining areas and private event rooms. Completion is slated for spring 2026.

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FRANKLIN, TENN. — McShane Construction Co. will build Ellison Cool Springs, a 34-acre mixed-use project in Franklin, approximately 20 miles south of Nashville. Upon completion, the property will comprise 332 apartments and 15 commercial units across three four-story buildings. McShane will construct the project on behalf of the developer, Fluornoy Development Group. Designed by Dynamik Design, amenities at the development will include an outdoor pool, clubroom, fitness center, recording studio, hospitality bar, focus room, pet spa and a car wash. Additionally, the property will feature two two-story parking garages and five standalone six-bay garages. Residences will include apartments in one-, two- and three-bedroom layouts, with select two-story, live-work units. The project team expects to deliver Ellison Cool Springs in August 2026.

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BLOOMINGDALE, GA. — A partnership between Crestlight Capital and GEM Realty Capital has acquired Savannah Portside II, a newly constructed, 1.2 million-square-foot industrial distribution warehouse located in Bloomingdale, roughly 14 miles northeast of Savannah. In September 2023, the partnership purchased the adjacent Savannah Portside I building. Together, the properties, which are located at 201 and 301 Savannah Portside International Parkway, total 2.3 million square feet. Two undisclosed tenants fully occupy the buildings. CBRE will manage and lease both properties on behalf of Crestlight and GEM.

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ATLANTA — Walmart will open a 75,000-square-foot Walmart Neighborhood Market store at 835 MLK Jr. Drive in the Vine City neighborhood of Atlanta. Previously, the brand operated a Supercenter store at the property, which closed in December 2022 due to fire damage. The new store will feature a full-service deli, money center, expanded bakery, online pickup and delivery service and a health service room. Scheduled to open on Wednesday, May 22, this marks Walmart’s first conversion of a Supercenter store into a Neighborhood Market store.

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ATLANTA — JLL Capital Markets has arranged the refinancing for Hyatt Centric Buckhead Atlanta, a hotel located at 3301 Lenox Square Parkway NE in the Buckhead neighborhood of Atlanta. Opened in 2021, the property features 218 rooms, as well as food-and-beverage options including a ground-floor restaurant and rooftop bar. Amenities at the hotel include a fitness center, pool and more than 5,000 square feet of meeting and event space. Ed Coco and Matt Casey of JLL secured the financing on behalf of the borrower, a joint venture between Songy Highroads LLC and an affiliate of Hyatt Hotels Corp.

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PEACHTREE CITY, GA. — Six new tenants have signed leases at The Avenue Peachtree City, an open-air shopping center located in Peachtree City, approximately 40 miles outside Atlanta. Beignets and Brew is now open at the property, with HOBNOB Neighborhood Tavern scheduled to open a 5,781-square-foot restaurant later this month. Kendra Scott, Motivate Studios and 9292 Korean BBQ have also signed leases at the center and will occupy 2,000; 2,000; and 8,015 square feet, respectively, beginning this summer. Additionally, Arhaus will open a 7,085-square-foot store at The Avenue Peachtree City later this year. JLL manages the property on behalf of the owner, Memphis-based Poag Development Group.

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Urban-District-35-Denton

DENTON, TEXAS — Dallas-based Urban Logistics Realty has sold Urban District 35, a four-building, 440,663-square-foot industrial property located in the North Texas city of Denton. The buyer was High Street Logistics Properties. The 31-acre site fronts I-35, and building features include 28- to 32-foot clear heights, 60-foot speed bays and ample car and trailer parking. Construction began in early 2022. Urban District 35 was 67 percent leased at the time of sale.

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CLEBURNE, TEXAS — Marcus & Millichap has brokered the sale of U-Lock-It Mini Storage, an 224-unit self-storage facility in Cleburne, a southern suburb of Fort Worth. The facility totals 27,120 net rentable square feet. Danny Cunningham and Brandon Karr of Marcus & Millichap represented the seller and procured the buyer, both of which were locally based entities that requested anonymity, in the transaction.

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GEORGETOWN, TEXAS — Partners Real Estate has arranged the sale of a 12,664-square-foot daycare facility in the northern Austin suburb of Georgetown. According to LoopNet Inc., the building was constructed on 3.2 acres in 2022. Landan Dory and Caleb Jackson of Partners represented the seller and former occupant, Wellspring Preparatory Academy, in the all-cash transaction. The buyer and sales price were not disclosed.

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3351-E-Philadelphia-St-4450-E-Lowell-St-Ontario-CA

ONTARIO, CALIF. — San Francisco-based Stockbridge has acquired a core industrial portfolio in the Inland Empire from Principal Asset Management for $142.2 million. Located at 3351 E. Philadelphia St. and 4450 E. Lowell St. in Ontario, the two-building portfolio offers 540,478 square feet of industrial space. At the time of sale, the properties were both 100 percent occupied. Jeff Chiate, Jeffrey Cole, Rick Ellison and Matt Leupold of Cushman & Wakefield’s National Industrial Advisory Group – West represented the seller in the transaction. Phil Lombardo, Chuck Belden and Andrew Starnes of Cushman & Wakefield provided leasing advisory. Rob Rubano, Brian Share, Joseph Lieske, Max Schafer and Becca Tse of Cushman & Wakefield Equity, Debt & Structured Finance collaborated in sourcing acquisition financing for the transaction.

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